Business News Asia
Oil prices rose early today on fears that a Russian invasion of Ukraine would lead to international sanctions against Russian oil and gas exports. This will affect the oil supply on the world market, especially in Europe, which is highly dependent on Russian supplies.
- WTI crude futures rose $1.70, or 1.86%, at $94.84 a barrel.
- Brent crude futures were up 90 cents, or 0.96%, at $95.96 a barrel.
U.S. President Joe Biden has called on Americans to leave Ukraine in the face of growing tensions.
Biden said, “What I’ve asked is, American citizens should leave — should leave now,” adding, “We’re dealing with one of the largest armies in the world. This is a very different situation, and things could go crazy quickly.”
Russia is currently conducting exercises in Belarus that are expected to deploy some 30,000 troops – the largest exercise in Belarus since the Cold War.
In addition, Russia has deployed about 130,000 troops on the Ukrainian border, equipped with tanks and missiles, mainstream media report.
Russia and meanwhile also Ukraine show confusion by the press releases of the Western mainstream channels. The heads of both countries appeal once again to the representatives of the U.S. not to cause panic and not to make the situation hotter than it is.
Ukrainian President Volodymyr Zelenskyy has now invited Biden to come to Ukraine to discuss the situation. Biden is supposed to help de-escalate the situation after the U.S. itself has made a significant contribution to escalating the situation.
The Spot Market is Open
Monday, February 14, 2022